GA Claims Adjuster Licensing Exam Latest 2024 Already Passed

GA Claims Adjuster Licensing Exam Latest 2024 Already Passed What coverage does Community Eligibility apply to? - Answer ️️ -Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? - Answer ️️ -Emergency applies to homes in communities that are a normally not a flood hazard. Regular programs are awarded to an entire community that is eligible due to flood hazard. What is the flood coverage on a regular program in a 1-4 Family Dwelling? - Answer ️️ - $250,000 On what policy can you add the Flood Program endorsement? - Answer ️️ -None! It has its own policy through the Federal Government. Difference in Conditions (DIC) Insurance - Answer ️️ -A separate insurance policy that provides open-perils coverage to fill in the gaps left by flood coverage if a home is worth over $250K. Coverage is produced through Excess/Surplus Lines. What is the waiting period on NFIP coverage? - Answer ️️ -30 days after policy purchase What is the coverage change waiting period for the NFIP? - Answer ️️ -5 days Give examples of the flood peril - Answer ️️ -- an overflow of inland or tidal waters - unusual or rapid accumulation or runoff of surface waters -Mudflow or Mudslide - Collapse of land along the shore of a lake as a result of erosion What kinds of things does flood insurance cover? - Answer ️️ -Your house and your things (dwelling and personal property). No indirect charges. Dwelling coverage extension for flood insurance covers what? How much is it? - Answer ️️ - Structures not attached to dwelling (O.S. or Appurtenant structures). 10% of Dwelling limit. ***It is an extension of coverage, NOT the $250K limit so any coverage needed here will reduce the amount able to go to the dwelling. Contents coverage of flood insurance is limited to what? - Answer ️️ -Personal property damaged or destroyed by the flood itself and belongs to insured and resident spouse/relatives. The insured is liable for content of others. What are the coverages of flood insurance? - Answer ️️ -Dwelling, Contents, Debris Removal How are damaged items valued in flood coverage? - Answer ️️ -Dwelling - replacement cost Contents - Actual Cash Value What kind of property is not covered by flood insurance? - Answer ️️ -Basements and underground structure (ex. septic tanks), animals, money/accounts/bills, land, anything else covered by other policies (motor vehicles, aircraft, watercraft) Loss Valuation on flood insurance - Answer ️️ -(amount of insurance purchased/80% Dwellings Total replacement cost) x Loss Amount Standard deductible on flood insurance - Answer ️️ -$1K for Dwelling and $1K for Content Personal Inland Marine Insurance - Answer ️️ -Floaters or policies for world-wide coverage of personal property on an open-peril basis. Is flood excluded from Personal Inland Marine Insurance? - Answer ️️ -NOPE. It's covered! What are the floaters available on Personal Inland Marine Insurance? - Answer ️️ -Personal Articles Floaters, Personal Property Floaters, and Personal Effects Floaters What perils are covered under Personal Inland Marine Insurance floaters? - Answer ️️ -all; open-peri